Longbow Finance SA Makes New $2.83 Million Investment in Crh Plc (NYSE:CRH)

Key Points

• Longbow Finance SA acquired a new stake in CRH Plc, purchasing 32,175 shares valued at approximately $2.83 million in the first quarter.
• CRH reported a loss of $0.12 earnings per share for the latest quarter, missing the consensus estimate and generating $6.76 billion in revenue.
• The company recently paid a quarterly dividend of $0.37 per share, translating to an annualized yield of 1.52% and a payout ratio of 23.52%.

Longbow Finance SA purchased a new stake in shares of Crh Plc (NYSE:CRH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,175 shares of the construction company's stock, valued at approximately $2,830,000.

Several other large investors have also recently bought and sold shares of CRH. Norges Bank acquired a new position in shares of CRH during the 4th quarter valued at about $1,391,245,000. FMR LLC boosted its stake in CRH by 13.0% during the 4th quarter. FMR LLC now owns 40,843,362 shares of the construction company's stock valued at $3,781,004,000 after purchasing an additional 4,687,345 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in CRH by 43.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after purchasing an additional 3,108,416 shares during the period. Franklin Resources Inc. boosted its stake in CRH by 17.0% during the 4th quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company's stock valued at $1,553,194,000 after purchasing an additional 2,437,868 shares during the period. Finally, Deutsche Bank AG boosted its stake in CRH by 72.2% during the 4th quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company's stock valued at $436,472,000 after purchasing an additional 1,978,225 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRH has been the subject of a number of research reports. Morgan Stanley reiterated an "overweight" rating on shares of CRH in a research report on Wednesday, May 7th. Sanford C. Bernstein began coverage on CRH in a research report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 target price for the company. Royal Bank Of Canada cut their target price on CRH from $127.00 to $108.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Finally, Loop Capital assumed coverage on CRH in a research report on Wednesday, April 9th. They issued a "buy" rating and a $114.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $112.82.

CRH Stock Performance

Shares of NYSE:CRH traded up $2.90 during trading on Friday, reaching $100.07. 8,790,491 shares of the stock traded hands, compared to its average volume of 3,437,300. Crh Plc has a 52-week low of $74.03 and a 52-week high of $110.97. The stock has a 50-day moving average of $93.16 and a two-hundred day moving average of $94.68. The stock has a market cap of $67.61 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.26.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The construction company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). CRH had a net margin of 9.17% and a return on equity of 15.88%. The firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.77 billion. Sell-side analysts expect that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Friday, May 23rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.48%. CRH's payout ratio is currently 23.52%.

CRH Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.